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Chinese maker of laser processing equipment used to cut and mark materials in electronics and other industries.
Chinese maker of laser processing equipment used to cut and mark materials in electronics and other industries.
In one line: A Chinese IPG Photonics/Coherent for laser processing tools.
Moat: none (process know-how). Laser equipment market with multiple domestic and global competitors.
Headquarters: Xiamen, Fujian, China · Employees: 636
Size Inno Laser Technology (301021.SZ) is a China Health Care company (Medical Specialties) with a market value of $1.16B, the 2033rd largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥50.68 on 6 Nov 2026.
Performance Over six months the shares fell 17.6%, against -5.5% for the median peer and -16.4% for the China market (cap-weighted) — 6th lowest of 20 in its peer set.
Growth Revenue grew 17.3% over the last twelve months (peer median +12.5%); the operating margin is 8.6% (peer median 13.9%).
Valuation It trades at 12.7× enterprise value to sales against a peer median of 4.9× (4th most expensive of 19).
Price implies For today's price to make sense, revenue must grow about 54% a year for seven years (Req g). Recent delivered growth is +9%, so the hurdle is +45 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 5.8 points below its cost of capital (14.0% WACC).
Next results Next results expected around 23 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥585M | CN¥511M | CN¥445M | CN¥366M | CN¥316M |
| Revenue growth | — | +15% | +22% | +16% | — |
| Gross profit | CN¥279M | CN¥207M | CN¥167M | CN¥127M | CN¥147M |
| EBITDA | n/a | CN¥60.7M | CN¥31.6M | -CN¥3.70M | CN¥34.3M |
| Net income | CN¥80.9M | CN¥48.3M | CN¥21.8M | -CN¥4.50M | CN¥22.6M |
| Free cash flow | CN¥121M | CN¥10.2M | -CN¥56.6M | -CN¥28.1M | CN¥63.4M |
| Capital expenditure | CN¥32.6M | CN¥12.3M | CN¥28.2M | CN¥56.5M | CN¥47.4M |
| Total debt | CN¥69.9M | CN¥59.8M | CN¥66.9M | CN¥38.4M | CN¥14.6M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g |
|---|---|---|---|---|---|---|
| Inno Laser Technology 301021.SZ | $1.16B | -18% | +17% | 9% | 12.7× | 53.9% |
| Han's Laser Technology Industry 002008.SZ | $7.97B | -48% | +59% | 12% | 2.1× | 19.6% |
| IPG Photonics IPGP | $2.78B | -38% | +15% | 5% | 1.7× | 24.8% |
| Coherent COHR | $38.0B | -42% | +23% | 14% | 5.6× | n/a |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | 301021.SZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -28.4% | +3.0% | 2nd lowest of 21 |
| 6-month return | -17.6% | -5.5% | 6th lowest of 20 |
| Distance from 52-week high | -63.8% | -34.5% | 3rd lowest of 21 |
| Revenue growth (TTM) | +17.3% | +12.5% | 7th highest of 19 |
| Operating margin | 8.6% | 13.9% | 9th lowest of 19 |
| EV / Sales | 12.7× | 4.9× | 4th most expensive of 19 |
| Growth the price implies (Req g, 7 yrs) | 53.9% | 10.0% | most demanding of 10 |
| Growth delivered (Del g) | +8.6% | +10.3% | 3rd lowest of 10 |
| Hurdle (Req g minus delivered) | +45.2 pp | -3.8 pp | most demanding of 10 |
| ROIC minus cost of capital | -5.8 pp | -0.2 pp | 9th lowest of 20 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Inno Laser Technology 301021.SZ | China | $1.16B | -18% | +17% | 9% | 12.7× | 53.9% | +8.6% |
| Alphatec ATEC | United States | $1.15B | -1% | +15% | -3% | 2.0× | n/a | n/a |
| Tandem Diabetes Care TNDM | United States | $1.18B | +9% | +4% | -4% | 1.4× | n/a | n/a |
| PROCEPT BioRobotics PRCT | United States | $1.18B | -19% | +23% | -34% | 3.0× | n/a | n/a |
| Mingyue Optical Lens 301101.SZ | China | $1.14B | +6% | +14% | 25% | 6.8× | 10.0% | +8.8% |
| Beijing Strong Biotechnologies 300406.SZ | China | $1.13B | +1% | -4% | 36% | 5.8× | 1.5% | +9.9% |
| Beijing Wandong Medical Technology 600055.SS | China | $1.11B | -27% | -11% | -33% | 3.4× | n/a | n/a |
| IRadimed IRMD | United States | $1.10B | 0% | +11% | 32% | 11.7× | 19.1% | +21.5% |
| Amoy Diagnostics 300685.SZ | China | $1.10B | -14% | +7% | 34% | 5.2× | 6.5% | +10.3% |
| Freenome FRNM | United States | $1.09B | n/a | n/a | n/a | n/a | n/a | n/a |
| SI-BONE SIBN | United States | $1.09B | +98% | +14% | -8% | 4.5× | n/a | n/a |
| Shandong Weigao Orthopaedic Device 688161.SS | China | $1.24B | -25% | -6% | 18% | 5.1× | 12.7% | -3.5% |
| PHC 6523.T | Japan | $1.09B | +36% | +3% | 7% | 1.0× | -2.3% | +3.6% |
| CLASSYS 214150.KS | South Korea | $1.25B | -54% | +25% | 46% | 4.6× | -8.7% | +34.5% |
| Tinavi Medical Technologies 688277.SS | China | $1.08B | -30% | -2% | -59% | 26.9× | n/a | n/a |
| INKON Life Technology 300143.SZ | China | $1.08B | -14% | +22% | 12% | 3.4× | 12.4% | +12.9% |
| Guangzhou Hexin Instrument 688622.SS | China | $1.26B | +58% | -29% | -74% | 99.9× | n/a | n/a |
| L&C BIO 290650.KS | South Korea | $1.07B | -17% | +53% | 17% | 12.8× | n/a | n/a |
| STAAR Surgical STAA | United States | $1.26B | -6% | +51% | 18% | 3.3× | n/a | n/a |
| Eyebright Medical Technology (Beijing) 688050.SS | China | $1.27B | -15% | +21% | 16% | 5.2× | 10.8% | +40.3% |
| Alpha Tau Medical DRTS | United States | $1.27B | +61% | n/a | n/a | n/a | n/a | n/a |